Posts Tagged ‘50 Cent’

With 50 Cent’s recent financial woes, Rick Ross is taking a victory lap on his new remix track “Wing Stop.” Ross only gives the old beef a few lines and takes credit for “ethering” 50. MMG artist Yowda is also featured.

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50 Cent has filed for Chapter 11 personal bankruptcy on Monday (July 13) rather than testify about his finances in an ongoing lawsuit with Lavonia Levinston, mother of Rick Ross’ daughter.

The bankruptcy filing was made in Connecticut Bankruptcy Court, where 50’s lawyers claim he has $10-$50 million in assets but equal that amount in debt. Last month, 50 filed bankruptcy protection on his SMS boxing promotion. Last November, he appealed the courts to lift a freeze on his assets after losing a $17 million judgment to headphone maker Sleek Audio.

50’s lawyers argued that the bankruptcy’s automatic stay should apply the Leviston case as well, which would stop the state court proceedings.

Manhattan Supreme Court Justice Paul Wooten noted this was the second bankruptcy petition that 50 Cent had filed in the last 30 days. Leviston was already awarded $5 million for 50 Cent leaking her sex tape online without consent. She is seeking an additional judgment for $10 million in punitive damages.

At press time, Leviston’s lawayers are filing an emergency application in Manhattan federal court to get the bankruptcy stay lifted.

The hits just keep on coming for 50. No, you won’t see the man in an unemployment line anytime soon, but this gives you a clear hint that Christopher Wallace’s “Mo’ Money, Mo’ Problems” is indeed not just a cute song title.

According to what we know, 50 filed for Chapter 11 bankruptcy. That’s normally reserved for businesses, but you can file it as an individual (like 50 did). The key thing to remember is Chapter 11 reorganizes your assets so you can pay your debts — it doesn’t just wipe the slate clean like some people are claiming on Twitter. In other words, 50 is still going to have to pay this woman at some point.

Even if 50 filed a Chapter 7, which uses your assets to clear all your debt, this lawsuit doesn’t fall under a “dischargeable debt.” Things like child support, taxes, criminal lawsuit judgments and judgments from malicious behavior (like this case) still have to be paid.

The best guess is 50 was not keen on taking the stand and revealing the extend of his personal finances. We’ll see if this move keeps that from happening, or if it’s just delaying the inevitable.

A Manhattan jury has awarded the mother of Rick Ross’ daughter $5 million in damages against 50 Cent, who leaked a sex tape featuring the woman in 2010.

Lavonia Leviston won $2.5 million in damages for violating her civil rights, and $2.5 million for intentional infliction of emotional distress. The amount can increase next week after the jury considers punitive damages. Leviston’s original lawsuit asked for $20 million.

50 Cent received the tape from Leviston’s ex-boyfriend Maurice Murray while embroiled in a lyrical feud with Rick Ross. 50 edited the tape to include narration from his “Pimpin’ Curly” character and promoted it on his social media site thisis50.com, helping it to generate millions of hits.

In a videotaped deposition, 50 argued that he had permission to use the tape from Murray, who allegedly assured him that Leviston was “cool” with the tape being released online.

At press time, neither Rick Ross nor 50 Cent could be reached for comment.

Ross isn’t exactly having a great year in the courtroom himself, but at least the final word has been given on his issues with 50 Cent.

In recent years, some fans have begun to use the phrase “lost the battle, but won the war” in regards to any battle where someone got roasted lyrically, but went on to have a better career than their opponent. I’ve always found this viewpoint faulty because Hip-Hop battles and careers generally don’t have the scope to be viewed as full-fledged wars.

No matter your stance, it remains clear that the entire Rick Ross beef was one that clearly backfired on 50.

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Guess who’s back? Our favorite conflicted drug kingpin James “Ghost” St. Patrick found his challenges mounting in episode two with the surprise jail release of old comrade Kanan (50 Cent), a failure to find buyers for his prodigious supply of kilos,and a humbling demotion in his club business.

With the failed hit and disappearance of his hired shooter, Kanan quickly realizes the best solution to eliminating Ghost returning to his inner circle. His surprise return to Ghost’s home has several verbal ques that hint to an uneasiness between them. To this point, all we know is Kanan took the fall years back, letting Ghost and Tommy step up to become the top dealers in the city. Kanan alludes to the treachery of that takeover by mentioning how Ghost killed his predecessor. In a sense, Kanan is trying to return the favor.

The most telling thing about this scene is the concerned glances exchanged between Ghost and Tasha. If Kanan was truly an old friend, why weren’t they completely ecstatic to see him? There are several theories you can run with. One, Ghost had something to do with Kanan getting locked up (think Tony Soprano/Feech La Manna or Stringer/Avon) to preserve his business. Two, the timing of Kanan’s release after an attempt on Ghost’s life has raised the latter’s suspicion. Third, they may just simply realize that Kanan is a sociopath from their street days and doesn’t fit into the complex, insulated system Ghost has created. We’ll know soon enough.

On the drug side, Ghost and Tommy have tons of product and still no buyers. The Serbians and RSKs turn them down. The Haitians are non-committal. On the legit side, Ghost finds himself demoted to a subordinate of his former assistant Kantos. We can credit the ruthless Simon Stern for this move in his plan to wrestle Truth away from Ghost’s empire. Unbeknowst to Stern, Kantos isn’t built to lead. For now, Ghost will hold a tenuous grip on how the club is run.

Love-wise, we began the episode with Ghost tailing Angela’s morning jog to find out more intel. He figures out her close FBI connections, but a quick read of hidden case files in her home brings relief — her case is weak… on him. She does figure out that Tommy may be behind Nomar’s murder. Next episode, we’ll find out how good Ghost’s poker face is when Angela starts her own fishing into his relationship with Tommy.

OTHER HIGHLIGHTS

1. The Tainos faction is on the come up. Their new leader Cristobal has all the guile and focus that his dearly departed brother lacked. He’ll be a strong ally (or dangerous adversary) for Ghost.

2. Kanan is in the running for the worst father of the year. You make your son get a blowjob on a skank right after you finish putting a deposit in her mouth? And you just got out of jail? Shawn, run to the clinic.

3. It’s too bad Pink Sneakers’ errant bullet for Ghost didn’t hit Holly square in the head. She’s becoming way too bold and nosy in a world she’s not ready for. You’d think a bullet would scare her straight. In this case, it has made her more reckless.

4. Ghost and Stern’s gentleman’s agreement on Truth increasing revenue by 20% is something I hope Ghost isn’t banking on. Stern is a snake and won’t honor anything not in writing.

5. Can Ghost kill Pink Sneakers, the guy trailing her and still keep Angela in the dark?

You can only delay the inevitable for so long. The season 2 premiere of Power, aptly titled “Consequences,” saw the primary players facing the fallout for their season 1 decisions. And most importantly, our protagonist James “Ghost” St. Patrick (Omari Hardwick) discovered a chilling secret that will drive this year’s remaining episodes.

If surviving a murder attempt in his very own club wasn’t enough, Ghost’s attention is now directed on his mistress/high school love Angela (Lela Loren), who’s now been outed by Tommy (Joseph Sikora), his right hand man, as a federal agent.

“That bitch’s pussy got you stuck on stupid,” says Tommy in disgust.

Indeed, Ghost must feel like an idiot. Angela appears out of nowhere one night in his club and in no time he’s knee-deep between her legs with fantasies about starting a new life. The one area of his life he thought was safe and pure turns out to be just as big a deception as he’s been perpetrating to the public and his family. Not to mention, his wife Tasha reveals she knows about the affair and demands he stop.

Ghost’s two options have their pros and cons. He can cut all contact with Angela, but that leaves him in the dark about the extent of her knowledge on his criminal dealings. He can continue the affair to learn more about Angela’s case, but then he risks causing hothead Tommy to make a stupid move in killing her and bringing the wrath of the federal government.

Speaking of Tommy, anyone else catch the hypocrisy in his criticism of Ghost’s affair with Angela? Tommy’s been just as guilty by revealing the entire operation to his klepto girlfriend Holly.

Love issues aren’t the only big problems in Ghost’s life. His business front, Club Truth, had to be closed for weeks due to the shooting. In that period, rival mogul Simon Stern literally brought the building Ghost was renting out, making Stern his new landlord. Stern smugly lets Ghost know if he doesn’t take him up on his apprentice offer, he’ll have no qualms about evicting him once his current lease ends. That would leave the city’s biggest drug dealer without an outlet to wash his money.

On the street end, Ghost is trying to move his supplier Lobos’ weight among two camps with nothing but disdain for each other: the RSKs and Saldados. The RSKs suspect the latter in the season 1 murder of their leader Rolla, and are equally suspicious of Ghost, the actual killer. The Saldados leader, Ruiz, wants a bigger hand in executive decision that Ghost makes. All camps are unknowingly being manipulated by Kanan (50 Cent), who is now back on the street with sights set on taking over Ghost’s empire.

REMAINING BUSINESS

1. Kanan is none too happy that the hitwoman he hired, the mysterious Pink Sneakers, botched the Ghost shooting at Club Truth. He now sees her as a liability that needs to be silenced. In the meantime, he’s gone about secretly grooming his son Shawn (who just happens to be Ghost’s driver). Wait until Kanan finds out about Tasha’s flirtatious relationship with his son.

2. Speaking of Tasha, she’s continuing her own secret mission of stashing money. Yes, Ghost is starting to involve her more on the decision-making side of the criminal business, but she is still a woman scorned. That makes her moves unpredictable, especially if she finds out Angela is still in the picture.

3. When Holly wakes up out that coma, what will her mindset be?

4. Angela her own problems. Since her star informant Nomar was killed by Tommy in the season 1 finale, Angela has been taken off the Lobos case and assigned to “white-collar” crimes. However, she kept the cell phone of her CI and will be using that to continue her own investigation. How long before the trail takes her past having just having the connect’s street name of “Ghost” to her actual love, Jamie?

HOUSTON, TX — We’re almost at the finish line for the pre-fight promotion surround Canelo Alvarez vs. James Kirkland. The two main fighters held their final press conference yesterday with select quotes to the media. The co-feature bout pits veteran Humberto Soto against Frankie Gomez.

CANELO

Thank you all for being here. I want to say thank you for all of the support you have been giving me. We have worked very hard to come out with this victory.

It’s very easy to say words, but once we are in the ring, let’s let the fists do the talking.

KIRKLAND

I have been looking forward to this moment for a long time. We had this fight set up once before but it was canceled due to an injury.

My training camp has been outstanding. Canelo brings a lot to the game; he has a great team backing him. I would like to thank the fans, HBO, and everyone who will be at the fight. Thank you. Team Kirkland!

50 CENT

This is excitement. Originally, I was just passionate about boxing, I was just a fan, but now, to be a part of what could possibly be the biggest fight of the year, that is really exciting.

I want to thank everyone, Golden Boy Promotions, Oscar De La Hoya, Bernard Hopkins, HBO, and everyone working behind the scenes to make this fight happen.

One of my up and coming fighters for SMS Promotions, Ryan Martin, will also be fighting on May 9.

We will definitely get a chance to see some action on May 9 at Minute Maid Park. It’s the perfect place for this fight.

HBO’s 24/7 series takes a look at the May 9 fight between Canelo Alvarez and James Kirkland. The episode details the rise of both fighters and their current training with commentary from Oscar De La Hoya, Ann Wolfe and more.